Adviser firm to compensate client after facilitating Cape Verde hotel investment

Mr H, as the Financial Ombudsman Service (FOS) referred to him, invested £66,318 into the project that saw him take a 45% stake in an ‘off-plan' apartment on the understanding he would later purchase the remaining 55%. His investment was later transferred to part-ownership of another smaller apartment. The idea behind the scheme was that investors would later rent out the apartments or sell them for profit. Mr H complained to Insight, which has offices in London, the south east and Leicestershire, in 2018 after his new financial adviser told him Insight's advice, which he received in ...